Dubai holding becomes Emaar's top shareholder at $6.5 bln

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Dubai holding becomes Emaar’s top shareholder at $6.5 bln

May 12, 2026

DUBAI,— Dubai Holding, controlled by Dubai’s ruler, became the largest shareholder in Emaar Properties after completing the purchase of a 22.27% stake from the emirate’s main sovereign wealth fund, the companies said late Monday, Reuters reported.

Following the transaction, Dubai Holding owns 29.73% of Emaar, changing the ownership structure of one of the Middle East’s biggest listed property developers within Dubai’s state investment network.

Emaar is listed on the Dubai Financial Market and operates residential, commercial, hospitality and retail assets across the Middle East, North Africa, Asia and Europe.

Dubai Holding said the acquisition showed confidence in Emaar’s market strength, asset quality and long term growth outlook, along with the fundamentals of Dubai’s economy and property sector.

The companies did not disclose financial terms. Based on Emaar’s Monday closing price of 12.4 AED dirhams, the 22.27% stake was valued at about 23.9 billion AED dirhams, or $6.5 billion.

The transfer was an off market move and did not change overall state linked ownership of Emaar. Emaar shares fell 1.48% to 11.96 dirhams in early Tuesday trading.

Emaar shares have dropped about 15% this year as Dubai equities faced broader selling pressure following Iranian strikes on Gulf states, according to data by the companies.

(With files from Reuters)